These days, the meaning of “as good as gold” keeps getting better and better. Over the past 10 years, the average value of gold has increased dramatically. That means the value of your gold jewellery has increased, too, and experts say it will continue to go up. What better time to revisit your home coverage to ensure you have the right coverage for your valuables?

What your Home policy covers

Your Home insurance protects you from several types of losses. In addition to your home and property, it also covers all the possessions that you normally keep there, within the limit of your coverage.

When it comes to coverage for your jewellery, our Home policy covers up to $2,500 total for jewellery, watches, precious or semi-precious stones, fur garments and garments trimmed with furs combined if they are stolen or disappear mysteriously. There is also a limit for Goldware, Silverware and Pewterware of $10,000 for all insured losses.

If you have these types of items and estimate that this limit will not cover you, you may want to purchase additional coverage.

Get extra coverage for your gold and other items

If you have jewellery, watches, precious or semi-precious stones, fur garments and garments trimmed with furs that exceed $2,500 in total value, you may want to consider increasing your limit to $5,000, or scheduling an item separately as a Valuable Personal Article. Other items you can schedule include cameras, fine art, musical instruments, silverware and more.

There’s no greater value than sentimental value. Keep your precious items locked up when not in use, either in a safe at home or in a safe-deposit box, and make sure clasps and closures are in working order before you wear them.